ZEO.TO vs. ENBE.TO
ZEO.TO (BMO Equal Weight Oil & Gas Index ETF) and ENBE.TO (Harvest Enbridge Enhanced High Income Shares ETF) are both exchange-traded funds - ZEO.TO is a Energy Equities fund tracking the Solactive Equal Weight Canada Oil & Gas Index, while ENBE.TO is a Derivative Income fund actively managed by Harvest. ZEO.TO is passively managed, while ENBE.TO is actively managed. Their 0.49 correlation means their historical movements had little consistent relationship. ZEO.TO charges 0.60%/yr vs 0.40%/yr for ENBE.TO.
Performance
ZEO.TO vs. ENBE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZEO.TO achieves a 37.42% return, which is significantly higher than ENBE.TO's 18.10% return.
ZEO.TO
- 1D
- -2.24%
- 1M
- 6.58%
- 6M
- 26.27%
- YTD
- 37.42%
- 1Y
- 47.76%
- 3Y*
- 24.46%
- 5Y*
- 26.62%
- 10Y*
- 9.88%
- ALL TIME*
- 4.53%
ENBE.TO
- 1D
- -1.91%
- 1M
- -2.00%
- 6M
- 15.12%
- YTD
- 18.10%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$149.02K | CA$112.71K | CA$72.45K | |
| CA$3.54M | CA$2.96M | CA$2.91M |
ZEO.TO vs. ENBE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZEO.TO BMO Equal Weight Oil & Gas Index ETF | 37.42% | 5.65% |
ENBE.TO Harvest Enbridge Enhanced High Income Shares ETF | 18.10% | -0.98% |
Correlation
The correlation between ZEO.TO and ENBE.TO is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 21, 2025 | 0.49 |
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Return for Risk
ZEO.TO vs. ENBE.TO — Risk / Return Rank
ZEO.TO
ENBE.TO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZEO.TO vs. ENBE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) and Harvest Enbridge Enhanced High Income Shares ETF (ENBE.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZEO.TO | ENBE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.44 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.86 | — | — |
| Martin ratioReturn relative to average drawdown | 13.04 | — | — |
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Drawdowns
ZEO.TO vs. ENBE.TO - Drawdown Comparison
The maximum ZEO.TO drawdown since its inception was -80.10%, which is greater than ENBE.TO's maximum drawdown of -11.28%. Use the drawdown chart below to compare losses from any high point for ZEO.TO and ENBE.TO.
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Drawdown Indicators
| ZEO.TO | ENBE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.10% | -11.28% | -68.82% |
Max Drawdown (1Y)Largest decline over 1 year | -9.88% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -73.35% | — | — |
Current DrawdownCurrent decline from peak | -3.57% | -7.07% | +3.50% |
Average DrawdownAverage peak-to-trough decline | -24.99% | -3.15% | -21.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | — | — |
Volatility
ZEO.TO vs. ENBE.TO - Volatility Comparison
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Volatility by Period
| ZEO.TO | ENBE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.82% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.16% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 18.42% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.24% | 18.42% | +2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.15% | 18.42% | +8.73% |
ZEO.TO vs. ENBE.TO - Expense Ratio Comparison
ZEO.TO has a 0.60% expense ratio, which is higher than ENBE.TO's 0.40% expense ratio.
Dividends
ZEO.TO vs. ENBE.TO - Dividend Comparison
ZEO.TO's dividend yield for the trailing twelve months is around 2.74%, less than ENBE.TO's 11.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENBE.TO Harvest Enbridge Enhanced High Income Shares ETF | 11.16% | 4.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZEO.TO BMO Equal Weight Oil & Gas Index ETF | 2.74% | 3.43% | 3.86% | 4.82% | 4.69% | 3.27% | 5.54% | 3.55% | 0.71% | 0.49% | 0.47% | 0.82% |
Frequently Asked Questions
ZEO.TO and ENBE.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENBE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENBE.TO is cheaper with a 0.40% expense ratio, compared with 0.60% for ZEO.TO.
ZEO.TO is categorized as Energy Equities, while ENBE.TO is Derivative Income. They also come from different issuers: BMO and Harvest. Their fees differ too: 0.60% for ZEO.TO and 0.40% for ENBE.TO.
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